Myself and my wife are looking to start a IVA early in 2018, we are currently at the drafting stage with Step Change.

My wife may get a promotion in the new year and may get a net monthly increase of around £200. After speaking with Step change they say if this happens we will keep 50% while 50% goes to our creditors.

My question is, Once we have had our 1st annual review and if our expenditure doesn't change to much, would we then pay our creditors the full amount my wife as received in her pay rise?

No --- permanent pay rises are taken into account at the review following the rise and 50% of the extra pay will be added to the IVA payment from the month after the review -- the other 50% is yours to keep. So it won't all be eaten up by the IVA and you will see some benefit yourselves.

http://kallis3.blogs.iva.co.uk/Sharing from experiences of dealing with debt The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.Bob Marley.

If that is the case, you may find you can keep it all until your next review as some companies do that.

http://kallis3.blogs.iva.co.uk/Sharing from experiences of dealing with debt The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.Bob Marley.